The Nigerian Education Loan Fund (NELFUND) has urged the South-South and South-East regions to enhance their involvement in the student loan program.
This appeal was made during a stakeholders’ engagement session and technical workshop focused on system automation and the loan application process held in Abuja yesterday.
NELFUND highlighted a significant gap in loan applications from these regions compared to others in the country.
The three-day event commenced on Monday with participation from universities and will proceed tomorrow with polytechnics, monotechnics, and institutes. The final day, scheduled for the 7th, will feature colleges of education, agriculture, health, and nursing.
In his remarks, NELFUND’s Managing Director and Chief Executive Officer, Akintunde Sawyerr, emphasized that this gathering marks a crucial step in the organization’s collective mission to establish a fully digitized, transparent, and student-focused financial aid system for higher education in Nigeria.
Addressing concerns regarding reports that NELFUND was disbursing funds to students who had already graduated, Sawyerr clarified that the fund manages government and taxpayer resources, and no payments would be expedited.
“We must stick to our procedures. If a student has already settled their fees in their final year, and we have covered their tuition, it is their responsibility to attend school. Complaining about having graduated does not change the fact that these individuals applied during their final year. We must ensure that applicants genuinely need assistance, and I want to highlight the importance of adhering to our processes.”
He noted that the meeting aims to influence the evolution of the platform and tackle the practical challenges faced by both institutions and students.
Ifeoluwa Ehindero, Chairman of the House Committee on Students Loan, Scholarships, and Higher Education Financing, stated that for the system to function effectively, there is a need to modernize and streamline the management, tracking, and delivery of funds to deserving students.
He asserted that automating and optimizing the NELFUND system will lead to a more transparent, efficient, and responsive loan application, approval, and disbursement process.
“This modernization is vital for the success of the initiative and is crucial in ensuring that our students receive timely and accountable support.
“As members of the House of Representatives Committee on Student Loans, we have worked diligently to create a legislative framework that supports these reforms. However, legislative measures alone are insufficient.
“We require your expertise, feedback, and active involvement to develop a system that serves everyone—from students applying for loans to the institutions managing the funds.
“This workshop serves not only as a training platform but also as an opportunity for collaboration. Your insights into improving the NELFUND system’s functionality will be invaluable in refining it to meet the needs of our institutions and students.”
Mr. Iyal Mustapha, Executive Director of Operations at NELFUND, revealed in his presentation that over 576,058 students have registered, with total applications valued at ₦170,437,179,836.
He encouraged institutions in the South-East and South-South to enhance their awareness efforts to facilitate timely loan applications.
Lawal Mohammed Faruk, a representative from the National Universities Commission (NUC), praised NELFUND as one of the federal government’s most beneficial initiatives.
“Our aspiration is to eventually include all students across the country, whether they attend public or private institutions,” he stated.
